Multiple choice

Bank B failed to file an appeal against DRT order to DRAT within the mandatory 45 day period. Which of the following remedies is available?

  1. The bank has no option except to follow the decree passed by DRT.

  2. The bank can make a request to DRT to extend the period, which it can consider.

  3. The bank can request DRAT explaining the circumstances and if satisfied, DRAT may permit the bank.

  4. The bank can request <font size="2">h</font>igh court which has the authority to permit the bank.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The bank can request DRAT explaining the circumstances and if satisfied, DRAT may permit the bank.

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